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Facebook Takes Up Blockchain Direction Seriously

The fact that Facebook has become interested in blockchain technologies has long been known. A special department for developing solutions for the social network based on the blockchain was created in the structure of the company. Recently, the Internet behemoth acquired the company Chainspace (chainspace.io), which is engaged in the development of smart contracts.

Together with the company, Facebook has, in fact, acquired a strong personnel potential of Chainspace, as well as their technological solutions. At the same time, the principle of operation of the blockchain startup will be preserved: the development will continue to have open source code.

Nevertheless, work on the blockchain-direction has been going on for quite a long time. One day, Mark Zuckerberg welcomes the massive introduction of cryptocurrency, another day, he expresses skepticism. But the new acquisition suggests that we will soon be able to see the first results of such cooperation. As already known, Facebook plans to integrate secure, fast crypto payments into the social network.